PAO Group, Inc. (USOTC: PAOG) today published a management outlook for 2021 on the company’s strategy to develop and monetize the cannabis assets acquired last year. The strategic outlook is included in its entirety below:
PAOG 2021 Cannabis Biopharmaceutical Strategic Outlook
PAOG is a longtime participant in the cannabis sector working on initiatives to introduce cannabis treatments as alternatives to traditional pharmaceuticals, particularly where existing pharmaceutical treatments have potentially severe secondary ramifications as is the case with opioid based treatments.
Last year, the company shifted its primary focus to the development biopharmaceutical treatments derived from cannabis.
On July 30, 2020, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY) RespRx is a cannabis treatment under development for Chronic Obstructive Pulmonary Disorder (COPD) derived from a patented cannabis extraction method – U.S. Patent No. 9,199,960 entitled “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.”
PAOG also acquired a of hemp cultivation business from Puration, Inc. (USOTC: PURA). This operation comes with existing sales activity and PAOG expects to report its first revenue from the acquisition in conjunction with the inclusion of Q4 2020 results into the overall 2020 financial report.
Since the two acquisitions, PAOG has been working diligently to develop and execute upon a strategy to monetize the assets in a manner that acheives self-sustainable operations at the same time delivering optimal shareholder value.
Toward that end, PAOG has entered into three strategic partnerships.
PAOG recently announced an engagement with Veristat, Inc., a contract research organization headquartered in Southborough Massachusetts. PAOG has engaged Veristat to assist in advancing PAOG with its proprietary Cannabidiol (CBD) extract for the treatment of Chronic Obstructive Pulmonary Disorder (COPD) toward initiating an Investigational New Drug application (IND) with the Food and Drug Administration (FDA).
Veristat, a scientific-minded global clinical research organization (CRO), enables sponsors to solve the unique and complex challenges associated with accelerating therapies through clinical development to regulatory approval. With more than 26 years’ experience in clinical trial planning and execution, Veristat is equipped to support any development program.
Learn more about Veristat at www.veristat.com.
PAOG management anticipates a pharmaceutical development process to be a long-term endeavor. Management is committed to pursuing complimentary initiatives that have the potential to deliver revenue and profit in a shorter time frame.
PAOG has also recently engaged with the Puerto Rico Consortium for Clinical Investigation to assist PAOG with developing its proprietary Cannabidiol (CBD) extract into a nutraceutical product to provide care for those experiencing issues associated with Chronic Obstructive Pulmonary Disorder (COPD).
The Puerto Rico Consortium for Clinical Investigation (PRCCI) is a not-for-profit network of top performing, high-quality research sites invested in increasing the speed and quality of clinical trials. PRCCI enhances clinical research speed and quality by driving performance and efficiencies in research sites, leveraging strategic partnerships and by establishing world-class capabilities.
PAOG is targeting revenue in 2021 resulting from its nutraceutical developments.
Learn more about PRCCI at www.prcci.org.
PAOG has also entered into a strategic partnership with PURA in conjunction with PURA’s overall initiative in Farmersville, Texas. In Farmersville, PAOG plans to build a pharmaceutical grade hemp cultivation facility and hemp extract facility. The PURA partnership includes the opportunity to work in conjunction with PURA’s partnership with Alkame Holdings, Inc. (OTC Pink: ALKM). PAOG plans to work with PURA and ALKM’s co-packing operations in the delivery of its CBD nutraceutical care solutions for those experiencing issues associated with COPD.
In a closing note to the strategic outlook, PAOG management is pleased to announce it has made the necessary application to authorize the issuance of a dividend of one share of PAOG stock to every holder of one share of PURA stock in accordance with the terms of the acquisition of the hemp cultivation business from PURA last year. PAOG anticipates announced dividend dates soon.
Learn more about PAOG at www.paogroupinc.com.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.